Question
The following infomration pertains to Amigo Corporation: Month Sales Purchases July $30000 $10000 August 34000 12000 September 38000 14000 October 42000 16000 November 48000 18000
The following infomration pertains to Amigo Corporation:
Month Sales Purchases
July $30000 $10000
August 34000 12000
September 38000 14000
October 42000 16000
November 48000 18000
December 60000 20000
-Cash is collected from customers in the following manner:
Month of sale 40%
Month following sale 40%
Two months following sale 20%
-60% purchases are paid for in cash in the month of purchase and the other 40% is paid the following month.
REQUIRED: COMPLETE CASH BUDGET FOR THE 4TH QUARTER
------------------------- October November December
Beginning balance: 10,000
Cash collections from:
August
September
October
November
December
Total Cash Collections:
Total Cash Available
Cash payments from:
September
October
November
December
Total Cash Payments
Ending cash balance
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Auditing Derivative Strategies
Authors: Barbara Davison
1st Edition
0894134434, 978-0894134432
